Chris Marks steps down as CEO of NatWest Markets

Maria Nikolova

Robert Begbie, RBS Treasurer, has been appointed Interim NWM Chief Executive Officer.

The Royal Bank of Scotland Group plc (LON:RBS) today announced changes at the top of its subsidiaries Natwest Markets Plc (NWM) and Natwest Markets N.V. (NWM N.V.).

Chris Marks

Chris Marks is stepping down as CEO of Natwest Markets Plc, whereas Richard Place is stepping down as Chief Financial Officer of Natwest Markets Plc. Chris Marks has also stepped down as Chair, and Richard Place as a member, of the NWM N.V. Supervisory Board.

The company has undertaken an internal and external search for successors with permanent appointments to be announced in due course.

During the search period, Robert Begbie, RBS Treasurer, will serve as Interim NWM Chief Executive Officer and will join the NWM Board and the NWM N.V. Supervisory Board. Robert Horrocks, RBS Treasury Finance Director, has been appointed Interim NWM Chief Financial Officer. All appointments are subject to regulatory approval.

To assist with an orderly transition, Chris Marks will remain with RBS until June 2020, and Richard Place until March 2020.

Alison Rose, Chief Executive of RBS, commented:

“The Directors of RBS and NatWest Markets and I would like to thank Chris and Richard for their commitment and dedication to this bank, its staff and its clients. They have set the foundations for the continuing transformation and simplification across NatWest Markets as RBS has been re-shaped to focus on serving its customers in the UK and Ireland, whilst also managing complex organisational changes around ring-fencing and Brexit.

Chris Marks said:

“I am proud to have been a part of the journey to transform the bank and I’d like to thank the many talented people I’ve had the pleasure of working with. In the face of challenging operating conditions, we continued to provide market-leading products and services to our clients, whilst being relentless in improving efficiency. I wish the new leadership team all the best for the future and am confident that they can build on the considerable progress we have made in recent years.”

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